[quote=patientrenter][quote=Arraya]…..I spoke to a lawyer that works at a firm that does loan mods. He said they do about 200-300 a month and 1/3 of them are principle reductions which essentially is a FHA refi were they will take somebody from like 120% LTV down to 97.5% LTV. The other re-works are with the existing lender based on “hardship” and ability to pay. A very common hardship is one spouse lost a job, but he said that the hardship “umbrella” is wide and they can get “creative”…..[/quote]
I wish I had been irresponsible. I feel stupid. But I do learn.[/quote]
I wish I had been a bk lawyer. That guy is cleaning up @ 3-5K per mod.
